The premier said because a vote is logistically feasible, it doesn't mean he's going to do it.

"So I just would encourage people to not put the cart ahead of the horse," he said.

The New Brunswick government would reap $270 million if it increased the HST by two percentage points.

A two-percentage-point increase would put the tax rate back to the level before Prime Minister Stephen Harper reduced the sales tax.

Higgs is estimating the deficit will be $356-million this year, which is almost double the amount he forecasted in his budget last March.

The finance minister said provincial revenues are continuing to decline and that is prompting the discussion on new ways to raise money.

In his pre-budget meetings, Higgs has raised a number of revenue-raising ideas that he says have been mentioned by taxpayers.

A health levy could raise $115 million and rescinding the former Liberal government’s personal and corporate income tax cuts could raise $320 million and $25 million, respectively.

The New Brunswick Business Council has already come out in support of increasing corporate income taxes and boosting the sales tax.

Meanwhile, Lacey said he welcomes the idea of a HST referendum because he thinks New Brunswickers would vote down higher taxes.

If there is a HST referendum, Lacey said he also thinks it would be wise for the provincial government to hold Senate elections on the same day at no extra cost rather than wait until 2016, as the current plan foresees.

"Certainly this way it would allow New Brunswickers not only to have a say on their taxes but on who represents them in the Senate. It would save money and it's a good idea," he said.